Ed Meza @edmezavar “Musk vs Bezos: The New Star Wars,” about the space race between the two richest men in the world, is attracting plenty of attention from broadcasters in Europe, where new TV documentary has secured multiple sales. Commissioned by France 5 from French documentary production shingle Magneto, “Musk vs Bezos” examines the intense competition between Elon Musk’s SpaceX and Jeff Bezo’s Blue Origin as they vie for the top spot in the U.S.’s burgeoning space travel business and the potential consequences for the world if the two billionaires develop the capacity to monopolize all future terrestrial communications. “When Musk first tried to buy a Russian rocket back in 2001, the chief engineer of the Russian Space Agency thought it was a joke,” Java Films notes. “By 2008 SpaceX had a contract with NASA to supply flights to the International Space Station.”
How much students starting university could pay back in loans as interest rates rise
21.08.2022 - 13:07 / manchestereveningnews.co.uk
For many about to take the next step from A-Levels to university, concern over how much their education could cost is a burden. This comes as the cost of living crisis has caused the interest rates for student loans to rise by three percentage points.
This does not necessarily mean that all students will pay more, as the debt is written off after 30 years - soon to rise to 40 years. So only the higher earners after leaving university are likely to be the ones that get stung by the interest rates increase.
The Department for Education (DfE) says graduates and current students will save hundreds of pounds each year by the cap being lowered.
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The Government has stepped in and capped interest rates at 6.3%. However, other than seeing their loan amount spiral, the increase in interest rates doesn’t directly affect how much students pay per month, or, for many, how much they pay back over the full term.
The student loan calculator will help by telling you how much you are likely to pay back currently:
However, the IFS has warned that the new lower cap still does "nothing at all to protect current students". Ben Waltmann, senior research economist at the IFS, told the BBC : "Only the minority of, mostly high-earning, graduates set to pay off their loans in full will ever actually benefit from this.
"Importantly, this does nothing at all to protect current students from the rising cost of living."
For those in England and Wales on Plan 2 (those who started university after September 2012), from the April after they graduate, they pay back 9% of what they earn over the threshold
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